Cactus (NYSE:WHD) Price Target Increased to $43.00 by Analysts at Bank of America

Cactus (NYSE:WHD) had its price target upped by Bank of America from $40.00 to $43.00 in a research note issued to investors on Monday, Benzinga reports. Bank of America currently has an underperform rating on the stock.

A number of other equities analysts have also issued reports on WHD. Benchmark lowered shares of Cactus from a buy rating to a hold rating in a research report on Tuesday, January 16th. Stifel Nicolaus reduced their price target on shares of Cactus from $68.00 to $60.00 and set a buy rating for the company in a research report on Wednesday, January 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $55.29.

Cactus Stock Down 1.2 %

WHD stock opened at $50.34 on Monday. Cactus has a 52 week low of $31.36 and a 52 week high of $57.00. The company has a quick ratio of 2.00, a current ratio of 3.17 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $3.99 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 8.63 and a beta of 1.96. The firm has a 50 day moving average of $47.40 and a 200 day moving average of $45.42.

Cactus (NYSE:WHD) last posted its quarterly earnings results on Thursday, February 29th. The company reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.13. Cactus had a net margin of 15.42% and a return on equity of 22.69%. The company had revenue of $274.87 million during the quarter, compared to analyst estimates of $268.56 million. During the same period last year, the firm posted $0.57 EPS. Cactus’s revenue for the quarter was up 46.4% compared to the same quarter last year. Sell-side analysts forecast that Cactus will post 3.04 earnings per share for the current year.

Cactus Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Monday, February 26th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.95%. The ex-dividend date was Friday, February 23rd. Cactus’s dividend payout ratio (DPR) is 18.82%.

Insider Activity

In related news, EVP William D. Marsh sold 1,700 shares of Cactus stock in a transaction on Monday, March 11th. The shares were sold at an average price of $46.20, for a total value of $78,540.00. Following the sale, the executive vice president now owns 3,911 shares of the company’s stock, valued at approximately $180,688.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP William D. Marsh sold 1,700 shares of Cactus stock in a transaction on Monday, March 11th. The shares were sold at an average price of $46.20, for a total value of $78,540.00. Following the sale, the executive vice president now owns 3,911 shares of the company’s stock, valued at approximately $180,688.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Scott Bender sold 78,000 shares of Cactus stock in a transaction on Monday, March 4th. The shares were sold at an average price of $45.79, for a total transaction of $3,571,620.00. Following the completion of the sale, the chief executive officer now directly owns 20 shares in the company, valued at approximately $915.80. The disclosure for this sale can be found here. Insiders own 17.71% of the company’s stock.

Institutional Investors Weigh In On Cactus

A number of institutional investors have recently added to or reduced their stakes in the stock. Southland Equity Partners LLC acquired a new stake in Cactus in the 1st quarter valued at $212,000. Bridge City Capital LLC boosted its stake in Cactus by 0.8% during the 1st quarter. Bridge City Capital LLC now owns 69,590 shares of the company’s stock worth $3,486,000 after purchasing an additional 534 shares during the last quarter. FCF Advisors LLC acquired a new stake in Cactus during the 1st quarter worth $991,000. Congress Asset Management Co. MA boosted its stake in Cactus by 36.9% during the 1st quarter. Congress Asset Management Co. MA now owns 174,677 shares of the company’s stock worth $8,750,000 after purchasing an additional 47,037 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Cactus by 27.5% during the 1st quarter. GAMMA Investing LLC now owns 1,005 shares of the company’s stock worth $50,000 after purchasing an additional 217 shares during the last quarter. Institutional investors and hedge funds own 85.11% of the company’s stock.

Cactus Company Profile

Cactus, Inc, together with its subsidiaries, designs, manufactures, sells, and leases pressure control and spoolable pipes in the United States, Australia, Canada, the Middle East, and internationally. It operates through two segments, Pressure Control and Spoolable Technologies. The Pressure Control segment designs, manufactures, sells, and rents a range of wellhead and pressure control equipment under the Cactus Wellhead brand name through service centers.